Doral Financial files 2005 10-K; shares rise

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Doral Financial Corp.
DRL, +0.00%
shares were up 13% at $5.14 in mid-afternoon trade Tuesday. Earlier, the San Juan, P.R.-based company said it has filed its Form 10-K for 2005. For 2005, Doral reported net income of $13.2 million, or a net loss of 19 cents a share after payment of dividends on preferred shares, and a net loss for the fourth-quarter of 2005 of $44.2 million, or 49 cents a share. "Doral Financial expects to report its results for the first two quarters of 2006 prior to the annual meeting of stockholders, which has been set for October 24, 2006, and to thereafter resume a regular financial reporting schedule," said Chairman and Chief Executive John Ward III in a statement.

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